Banking on Change

Banking on Change, a partnership between Barclays, Plan International and CARE was established in July 2010. Originally it set out to deliver a savings-led micro-finance programme to improve the financial inclusion of people in 11 countries across Africa, Asia and South America.

Plan India implements this project in Delhi in partnership with Dr. A. V. Baliga Memorial. The project was launched in July 2010 in the areas of Mangolpuri and Sultanpuri and its adjacent resettlement colonies of North-West district of Delhi. The goal of the project is ‘to improve the economic security and quality of life of disadvantaged children’ by providing young women access to financial services through financial linkages and micro-enterprise development activities.Plan India’s Banking on Change programme seeks to promote economic and social empowerment through financial inclusion of women from urban poor families. Supported by Barclay’s Bank, the programme was initiated in 2011 and reaches out to more than 10,000 women. Further, Banking on Change provides women members of Self Help Groups (SHGs) with knowledge and capacity on entrepreneurial skills so they can utilise their savings for income generation activities.

Key Achievements

  • The Banking on Change programme has mobilized more than 10,000 women members from communities to groups like Saving Sub Groups (SSG) and SHGs, clusters and federation. A women’s federation called ‘Sakhi Sangam’ has also been established and formalised through legal registration.
  • Access to financial services (saving bank account, credit, insurance and remittance) has ensured that SHG members and their families are able to better manage their household income and protect themselves from risks
  • 589 SHGs have been formed with more than 10,200 women members
  • Women members have saved INR 12.5 million and total amount of loans being INR 8.1 million
  • 271 SHGs have bank accounts
  • 10,120 women trained on group dynamics, trust building, etc.; 10,212 women trained on financial literacy; 3,081 women trained on entrepreneurial skills and 1,975 have been insured